Douglass Winthrop Advisors LLC Trims Stock Position in Dover Corporation $DOV

Douglass Winthrop Advisors LLC reduced its stake in shares of Dover Corporation (NYSE:DOV) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,225 shares of the industrial products company’s stock after selling 4,000 shares during the quarter. Douglass Winthrop Advisors LLC owned about 0.06% of Dover worth $13,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP grew its position in Dover by 717.4% in the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after buying an additional 1,506,288 shares during the last quarter. Norges Bank purchased a new position in shares of Dover during the 2nd quarter worth approximately $274,135,000. AQR Capital Management LLC lifted its holdings in shares of Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after buying an additional 711,471 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Dover by 133.6% in the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after buying an additional 375,333 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Dover by 46.8% during the second quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock worth $165,158,000 after acquiring an additional 287,362 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of NYSE DOV opened at $210.27 on Thursday. The company has a 50-day simple moving average of $214.77 and a 200-day simple moving average of $192.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The company has a market cap of $28.36 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s payout ratio is currently 26.20%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BNP Paribas Exane began coverage on shares of Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. UBS Group set a $256.00 price target on Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Oppenheimer lifted their price objective on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Robert W. Baird set a $255.00 target price on Dover in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Insider Activity at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the sale, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is currently owned by insiders.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.